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Selecting the right technology platform is critical to optimizing your company’s HR operations, employee experience, and overall business success. But with a vast array of options—ranging from human capital management (HCM) systems to dedicated benefits administration platforms—how do you determine which solution is best for your organization? Read our blog post and check out our podcast episode below for an insightful discussion where industry experts will break down the key factors HR leaders should consider when evaluating benefits technology.
According to Guardian’s 12th Annual Workplace Benefits Study, more than 90% of employers now use a technology system to manage some aspect of HR or benefits, up from just 70% five years ago. With that surge in adoption comes a critical question: how do you choose the right solution for your company?
Not all benefits technology solutions are created equal. Employers are often faced with the decision between using an HCM system with a built-in benefits module or adopting a standalone benefits administration platform.
Our panelists shared their perspectives:
Standalone benefits administration platforms typically offer deeper functionality and focus on the employee experience, while HCMs may appeal to organizations looking for an all-in-one system. The right choice often depends on company size, complexity, and priorities.
Our experts stressed the importance of evaluating:
Integration emerged as one of the most important factors in the decision-making process. From payroll feeds to insurance carrier connections, employers need platforms that “talk” to each other to reduce manual entry and prevent errors.
Even the best technology can fall short without a thoughtful implementation strategy. Our panelists agreed that employers should consider:
And implementation is only the beginning. Ongoing service and support ensure the system evolves alongside your business needs, giving HR leaders the confidence that they’re not navigating challenges alone.
Selecting the right benefits technology is more than a line item on an HR checklist—it’s a strategic decision that impacts the employee experience, HR efficiency, and ultimately, business success. By carefully weighing features, integrations, implementation support, and ongoing service, employers can find the solution that best meets their needs today and adapts for tomorrow.
Don’t forget to check out our podcast episode to watch Part 1 of our webinar.
Subscribe to our Inside WEX blog and follow us on social media for the insider view on everything WEX, from payments innovation to what it means to be a WEXer.